509 Prospect StElkhartIN46514
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Investment Highlights
Rental property for sale in Elkhart at 509 Prospect St, Elkhart, IN, 46514 priced at $349,900 pairs $1,625/mo rent with after a $1,713/mo payment. Total monthly income equals $1,625/mo. Return on cash invested is 14.99% in year one, and rental yield stands at 5.57% on a $349,900 basis. Equity gained on principal adds $2,258/yr, and 5% annual appreciation accumulates to $96,671 by year five. Five-year ROI measures 76.24% and total cumulative return in cash reaches $88,434. For financing, Ziffy Mortgage’s DSCR program evaluates $1,625/mo property income against a $1,713/mo payment instead of your W2s, 1099s, or Tax returns.
Multi Family
Built in 1880
10,018 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 46514, Elkhart, IN area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 18,284 (100%) |
| Owner Occupied HU | 11,774 (64.4%) |
| Renter Occupied HU | 5,434 (29.7%) |
| Vacant Housing Units | 1,076 ( 5.9%) |
| Median Home Value | $219,702 |
| Average Home Value | $252,263 |
Housing Distribution
Address Breakdown
Residential
17,694
Single Family
16,264
Multi-Family
1,430
Businesses
1,341
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices